Co-op credit pulls

those few points should not matter

Mgmt. co. Card balances are updated once a month, so depends on your timing.

The board is going to care less about the actual credit score than the fact that you're (hopefully) paying your bills on time, and that you don't have any liabilities that aren't listed in your board package. Most board members wouldn't have the first idea what your credit score even means -- and remember there are a number of different scoring systems out there.

Board member here. Management company pulls it, and each board member gets an enormous pile of paper with your score buried in it. It is very hard to read, and I agree timely payment is more important. I think on this boards may be more lax than banks and even tolerate a late payment on the history.

Was on the board of my coop and i can tell you this; that giant pile is RARELY reviewed. I feel the board interview is more a formality unless of course you are in a 5th ave, sutton place or park ave building.

As a board, we rely on the brokers and managing agents to ensure a buyer is qualified before the interview. The interview is to make sure you aren't a psycho or something - i highly doubt any board member (except for the very bored ones - no pun intended) will actually read through and make decisions based on your mountain of paperwork called "the package".

Board member here.
My board (myself particularly) reviews the entire pile.
And credit score is monumental as it reflects that you pay your bills on time.
In fact, the higher the credit score, the less that giant pile is heavily scrutinized.

On the flip side, I recently reviewed a package where I thought the score should have been higher considering the salary and cash in bank. It lead me to further investigate the pile and realize the score was low because the heavy purchasing was being done with a debit card and not credit cards.
As annoying as it was for me to prepare my giant pile when I purchased, I understand it's necessity.

But worrying about a couple points is not something to lose sleep over.

How is the back round check done? A couple years back I had been sued for cc (this was disclosed in our package) and I got in the habit of checking Ecourts for lawsuits filed against me. I am debt free, but I don't trust debt collectors. Hear to many stories of them suing on a previously settled debt, thus the reason why I keep checking Ecourts.

In 2012 I settled both of those and my credit scores are all above 700 now and the wife has 800's and we both have very little debt.

However, a lawsuit under someone with the same name as me is now showing up in Ecourts. I called the creditor, law firm, and court and verified it wasn't me. Plus, it's in a court upstate, where I have never lived. However, I just hope the co-op board does not come across it and think it's me.

Do they normally do back round checks?

>As a board, we rely on the brokers and managing agents to ensure a buyer is qualified before the interview. The interview is to make sure you aren't a psycho or something - i highly doubt any board member (except for the very bored ones - no pun intended) will actually read through and make decisions based on your mountain of paperwork called "the package". <

Then you are being negligent. As a board member I read the entire package, as do the other members. We then discuss any concerns and request additional clarification through our managing agent if need be. We schedule an interview ONLY after we are satisfied with the elements in the package. Relying on your managing agent or a broker to fully vet potential shareholders in YOUR corporation is just a dumb way to do business.

And re: OP's question--no need to worry about a couple of points if your allover score is in the 'very good' to 'excellent' zone.

^ Completely agree with bramstar on all points. Board member here as well, and "the package" is most definitely thoroughly reviewed and discussed by all members of the board. The management company pulls the credit report, and includes it in "the package". And your score falls within a relevant range, so a few points won't make a difference, *especially* if you pay your cards on time.

I wouldn't tell the board about your compulsive searching the internet to see if you've been sued. That's a little OCD. Also if the charge for your appraisal (max $750?) moves the needle on your credit, I'm a bit concerned you shouldn't be buying an apartment!